Japan Joint Statement Hints at Tighter Grip on Monetary Policy

By

Takashi Nakamichi

Oct. 30, 2012 8:04 a.m. ET

TOKYO—Japan's top financial diplomat said the "most important" action by the Bank of Japan on Tuesday wasn't its decision to further ease monetary policy, but a joint statement with the government in which the central bank renewed its commitment to beating deflation.

The remarks by Vice Finance Minister Takehiko Nakao could add to speculation that the government has strengthened its grip on central bank policy, and may use...